Key healthcare equipment manufacturer Opto Ciruits Limited of India, which bought a majority stake in the US-based Criticare Systems this year, is now looking for further acquisitions. Opto’s MD, Mr Vinod Ramnani, has stated that the company is currently negotiating with a medical devices company in Europe.

He added that the target company’s would be about over a hundred million dollars. Mr Ramnani, however, said that it will be tough to give an exact timeframe. The Indian healthcare equipment manufacturer had acquired the majority stake in Criticare for $70 million. Mr Vinod Ramnani informed that the induction process of the US firm into Opto’s management has been completed. 

Mr Bodapati Bhaskar, Opto’s Chief Financial Officer, went on to add that the manufacturing of Criticare is being shifted to India. ‘Criticare earlier did its manufacturing out of Taiwan, and this is now being brought to India’, said Bhaskar. He further informed that the revenue from the newly acquired US firm is expected to grow from $35 million this year to $50 million. Explaining why Opto was looking at more acquisitions, he said, it wants to plug gaps in its product portfolio through this way.